According to Amy Zhang, Head of Asia at Fireblocks, Asian banks are increasingly using stablecoins like USDT and USDC to mitigate deposit outflows and lost transaction revenue. Zhang stated that banks in Korea, Japan, and Hong Kong are exploring local-currency stablecoins, with a Korean consortium planning a won-pegged stablecoin by 2026. Fireblocks reported stablecoins account for 50% of its $3 trillion digital asset transaction volume, while Visa Analytics data shows 30% higher weekend volumes, highlighting retail and gig economy adoption. USDT dominates in emerging Asian markets due to liquidity, whereas USDC gains traction in regulated hubs like Singapore and Hong Kong.

According to Amy Zhang, Head of Asia at Fireblocks, Asian banks are increasingly using stablecoins like USDT and USDC as defensive tools to mitigate deposit flight risks and lost transaction revenue. Zhang highlighted that major banks in Korea, such as KB Kookmin and Shinhan, are forming a consortium to launch a Korean won stablecoin by 2026, while Japanese institutions like MUFG, SMBC, and Mizuho are piloting yen-pegged stablecoins to streamline trade finance. Hong Kong's Bank of East Asia has also piloted a USD and HKD stablecoin settlement network. Payment service providers are accelerating adoption, with stablecoins accounting for about half of Fireblocks' $3 trillion transaction volume, driven by retail and gig economy usage. Visa Analytics data shows 30% higher stablecoin volumes on weekends, underscoring their role in emerging markets. Separately, Bakkt Holdings (BKKT) filed with the SEC to raise $1 billion for bitcoin purchases, signaling growing corporate BTC treasury strategies. Bitcoin held above $107K ahead of a major options expiry, and Ethereum tested resistance between $2,500-$2,600, with analysts noting potential breakouts to $4,000 amid falling exchange reserves.

According to Amy Zhang, Head of Asia at Fireblocks, Asian banks are increasingly using stablecoins like USDT and USDC to mitigate deposit flight risks and lost transaction revenue. Major banks in Korea, including KB Kookmin and Shinhan, are forming a consortium to launch a Korean won stablecoin by 2026, as reported. Japanese banks such as MUFG, SMBC, and Mizuho are piloting yen-pegged stablecoins to streamline trade finance, while Hong Kong's Bank of East Asia is testing USD and HKD stablecoin settlements. Payment service providers are driving adoption for efficient cross-border payments, with Fireblocks noting stablecoins account for half of its $3 trillion transaction volume. E-commerce firms like JD.com plan cost reductions using stablecoins, and Visa Analytics data shows 30% higher weekend volumes, highlighting retail use. USDT dominates emerging Asian markets, while USDC gains traction in regulated hubs like Singapore and Hong Kong.